1 00:00:00,000 --> 00:00:02,160 Speaker 1: I think the good lord we found Nichola Willis, Economic 2 00:00:02,520 --> 00:00:03,880 Speaker 1: Growth Minister, good morning to you. 3 00:00:04,480 --> 00:00:07,640 Speaker 2: Good morning mate. Sorry that I'm no, don't apologize. 4 00:00:07,680 --> 00:00:10,600 Speaker 1: I was worried that you took that ft in motion 5 00:00:10,720 --> 00:00:12,400 Speaker 1: striet dog home and then you fell off it and 6 00:00:12,400 --> 00:00:13,560 Speaker 1: you couldn't join us this morning. 7 00:00:14,080 --> 00:00:15,800 Speaker 2: I was very tempted. I tell you it was great. 8 00:00:15,840 --> 00:00:17,000 Speaker 2: Fun was around on that thing. 9 00:00:17,200 --> 00:00:19,680 Speaker 1: No good stuff, was it all? Nois no action yesterday? 10 00:00:19,680 --> 00:00:21,640 Speaker 1: Did you yet again reiterate and fair enough that you 11 00:00:21,680 --> 00:00:24,440 Speaker 1: want another supermarket? What actually did you give us by 12 00:00:24,440 --> 00:00:26,520 Speaker 1: a way of tangible help to get them here? 13 00:00:27,200 --> 00:00:29,800 Speaker 2: Well, look, I think the difference in approaches. I think 14 00:00:29,840 --> 00:00:32,000 Speaker 2: the best way for all of this to be resolved 15 00:00:32,240 --> 00:00:37,800 Speaker 2: isn't with more codes and regulations and Commerce Commission reports. 16 00:00:38,120 --> 00:00:42,159 Speaker 2: It's actually a new entity opening its doors. It's a 17 00:00:42,200 --> 00:00:45,000 Speaker 2: private sector player saying I want to take on the 18 00:00:45,000 --> 00:00:48,960 Speaker 2: New Zealand supermarket scene. Now. I think there are things 19 00:00:49,000 --> 00:00:51,839 Speaker 2: the government could do that would make it easier for 20 00:00:51,960 --> 00:00:55,279 Speaker 2: a private sector player to enter the scene, because we 21 00:00:55,360 --> 00:00:58,600 Speaker 2: know from talking to those who have thought about it 22 00:00:58,600 --> 00:01:00,720 Speaker 2: in the past that when they went to do it, 23 00:01:00,760 --> 00:01:03,000 Speaker 2: they said, well, look, I've got the overseas investment Act. 24 00:01:03,040 --> 00:01:06,440 Speaker 2: I've got the Resource Management Act. It's just about impossible 25 00:01:06,480 --> 00:01:09,880 Speaker 2: to find sections that haven't been land banked. I'm worried 26 00:01:09,880 --> 00:01:12,440 Speaker 2: about predatory pricing. There's all of these issues. Those are 27 00:01:12,480 --> 00:01:15,920 Speaker 2: all issues that the GUP sort could reasonably sort. So 28 00:01:16,000 --> 00:01:19,200 Speaker 2: all I see yesterday was let's bring that on. And 29 00:01:19,240 --> 00:01:22,399 Speaker 2: we are a government who will be incredibly facilitative if 30 00:01:22,480 --> 00:01:24,800 Speaker 2: a private sector player wants to enter. And I do 31 00:01:24,959 --> 00:01:27,720 Speaker 2: know there is some interest out there, so it was 32 00:01:27,760 --> 00:01:28,560 Speaker 2: worth saying. 33 00:01:28,400 --> 00:01:31,200 Speaker 1: Okay in the same week that McDonald's couldn't open an 34 00:01:31,240 --> 00:01:33,480 Speaker 1: outlet in Wonicah. I mean, come on, is it real 35 00:01:33,600 --> 00:01:33,800 Speaker 1: or not? 36 00:01:34,440 --> 00:01:37,400 Speaker 2: Well, this is why, of course we're replacing the Resource 37 00:01:37,440 --> 00:01:39,880 Speaker 2: Management Act. This is why we've put the past track 38 00:01:40,000 --> 00:01:43,280 Speaker 2: legislation in place. And look, that was a decision which 39 00:01:43,360 --> 00:01:46,440 Speaker 2: really surprised me. I love Wonica, it's an amazing place. 40 00:01:46,840 --> 00:01:49,840 Speaker 2: But seriously, guys, it's just a McDonald's exactly. 41 00:01:50,200 --> 00:01:52,840 Speaker 1: So is it possible? Two part question? And this is 42 00:01:52,880 --> 00:01:55,120 Speaker 1: my argument. Is it possible? As much as you may 43 00:01:55,160 --> 00:01:57,720 Speaker 1: want something, we are a tiny nation at the bottom 44 00:01:57,760 --> 00:01:59,960 Speaker 1: of the world. It's only five million people. We can't 45 00:02:00,120 --> 00:02:02,080 Speaker 1: have two or three year lines. We can't have eight 46 00:02:02,120 --> 00:02:04,840 Speaker 1: or nine banks. We can't have three supermarkets. We're just 47 00:02:04,880 --> 00:02:06,080 Speaker 1: too small. 48 00:02:06,200 --> 00:02:09,000 Speaker 2: Well, no, we do have choices about that. We don't 49 00:02:09,080 --> 00:02:12,760 Speaker 2: have to accept that there are only two major entities 50 00:02:12,840 --> 00:02:15,640 Speaker 2: in the market. Of course, in the past, Mike, we 51 00:02:15,760 --> 00:02:19,239 Speaker 2: had many more supermarkets that were actually competing against each other. 52 00:02:19,560 --> 00:02:20,960 Speaker 2: And that was the point I made on my speech. 53 00:02:21,000 --> 00:02:24,400 Speaker 2: What we've let happen as we let them all merge together, 54 00:02:24,600 --> 00:02:26,959 Speaker 2: we let them be acquired and turn into these two 55 00:02:27,000 --> 00:02:30,000 Speaker 2: mega supermarkets. That was a choice for us, and actually 56 00:02:30,000 --> 00:02:32,280 Speaker 2: commerce commissions in some parts of the world would have 57 00:02:32,320 --> 00:02:33,120 Speaker 2: said no to that. 58 00:02:34,639 --> 00:02:37,360 Speaker 1: I just gave out the Treasury numbers that came out yesterday. 59 00:02:38,360 --> 00:02:41,200 Speaker 1: What a bleak, bleak scenario we have. 60 00:02:43,080 --> 00:02:46,280 Speaker 2: Well, look, we're on track, is what that six month 61 00:02:46,360 --> 00:02:48,960 Speaker 2: update shows. And I know that's a small thing, but 62 00:02:49,000 --> 00:02:52,680 Speaker 2: remember for many months now, the forecasts haven't been coming 63 00:02:52,720 --> 00:02:55,360 Speaker 2: in on track. So we're on track. And look, we 64 00:02:55,400 --> 00:02:57,480 Speaker 2: do have a plan. That means we will get the 65 00:02:57,520 --> 00:03:00,280 Speaker 2: books back in balance. That means we will start paying 66 00:03:00,320 --> 00:03:04,320 Speaker 2: down deep. But it is a hard road. The aftershocks 67 00:03:04,320 --> 00:03:08,160 Speaker 2: from COVID were actually pretty massive, both in terms of inflation, 68 00:03:08,639 --> 00:03:12,760 Speaker 2: interest rates spiking up, massive damage done to our economy, 69 00:03:13,240 --> 00:03:16,000 Speaker 2: because of the response that we had, and that's just 70 00:03:16,080 --> 00:03:18,120 Speaker 2: reality and New Zealand just needs to get on and 71 00:03:18,160 --> 00:03:18,560 Speaker 2: deal with it. 72 00:03:18,800 --> 00:03:20,160 Speaker 1: How much was that street dog? 73 00:03:21,360 --> 00:03:25,560 Speaker 2: You might had twelve thousand dollars worth it? I loved it. Now. 74 00:03:25,639 --> 00:03:28,200 Speaker 2: I don't have that twelve thousand dollars for that thing, 75 00:03:28,400 --> 00:03:30,760 Speaker 2: but if I did, I would go for it. It 76 00:03:30,800 --> 00:03:33,320 Speaker 2: was great fun. I'm not allowed to endorse products or 77 00:03:33,360 --> 00:03:37,520 Speaker 2: services under the Cabinet Manual, so a motorbike like that 78 00:03:37,560 --> 00:03:38,119 Speaker 2: would be fun. 79 00:03:38,240 --> 00:03:40,800 Speaker 1: Okay, good stuff. Nice to see it. Nicola Willis, Finance 80 00:03:40,840 --> 00:03:42,040 Speaker 1: and Economic Growth Minister. 81 00:03:42,640 --> 00:03:45,560 Speaker 2: For more from the mic Asking Breakfast, listen live to 82 00:03:45,640 --> 00:03:48,720 Speaker 2: news talks that'd be from six am weekdays, or follow 83 00:03:48,760 --> 00:03:50,320 Speaker 2: the podcast on iHeartRadio.